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The global super abrasives market is projected to grow by US$ 9,767.4 Mn by 2027, with an estimated compound annual growth rate of 6.5%. The market for super abrasives was estimated at US$ 6,694.5 Mn in 2021.
Super abrasive qualities such as exceptional hardness, endurance, and unrivaled performance provide a high-quality finish on hard materials. Super abrasives are tools that are used in the form of cutoff wheels, grinding wheels, and honing stones in various industries such as aerospace, medical, automotive, and electronics. Products including super abrasive diamond and cubic boron nitride (CBN) are frequently used in the aerospace sector and other industrial applications. These are employed in the machining of iron, nickel, and cobalt-based superalloys, where precision is critical in the machining operations. The market is growing because of increasing interest in metal-cutting gear from various industries like aviation, military, construction, and electronics. Moreover, the increasing application of abrasives for construction activities is the current trend in the super abrasives market. Construction is supposed to be the main application for the super abrasives industry due to the rapid growth of urbanization and improved living. The volume of construction output is anticipated to grow by 85% by 2030, with the United States, China, and India contributing the most, as per the Institution of Civil Engineers.
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Prominent factors that are affecting the super abrasives market during the forecast period include:
Conventional abrasives substituted by super abrasives
Silicon carbide, corundum, aluminum oxide, and other conventional abrasives are used in grinding and cutting instruments. Conventional abrasives are commonly natural grains that are combined or mixed with other abrasives grains in order to make the crushing wheel perform. In comparison with super abrasives, conventional abrasives require more intensive labor operations and high fixturing costs. Manufacturers prefer using super abrasives over other conventional abrasives as these are less expensive and need lesser space for their functioning. Super abrasives provide stress-free grinding to manufacturers as they stay sharp for a longer period because of the durability of the grain and also require less grinding energy and process stress.
Use of diamond in grinding wheels for precision and machining tools
The rising construction activities and growth in the automobile industry are driving the demand for accuracy and machining tools. Super abrasives are used in the manufacturing of car parts, for example, steering mechanisms, infusion frameworks, and gear shafts to give a smooth finishing to parts. Moreover, diamond wheels are crushing wheels with modern precious stones attached to the outskirts which are used for crushing extremely hard materials, for example, carbide cutting tips, cemented carbide, and gemstones. Diamond grinding wheels have some unique characteristics such as durability, and precise and high-quality finish which makes them ideal among professional jewelry designers.
High-performance application and high initial cost
Aluminum oxide, cubic boron nitride, ceramics, and synthetic diamond are some of the most popular raw material substances which belong to the super abrasive family. Most of the unrefined components are from renewable resources like oil and petroleum. The depletion of these resources has negatively impacted the raw material supply, thus restricting the market growth. Moreover, growing concern about environmental protection has prompted the government authority to make a move and force severe restrictions on its usage. Also, small and medium-sized businesses find it challenging to compete with global market leaders because of the rising complexity of super abrasive technology in high-performance applications and its high prices.
Among different types of products, the diamond segment is anticipated to have the largest share in the overall market during the forecast period. The diamond segment ruled the market with around 68.4% share, with a market estimated at around US$ 4,582.0 million in 2021, due to the increasing demand for cutting and grinding tools. Manufacturers of super abrasives have started to favor synthetic diamonds over natural diamonds because of their higher proficiency and durability. Moreover, within Cubic Boron Nitride (CBN) segment, vitrified CBN holds the highest share of 35.1% in 2021 as they lower the grinding forces, which makes them a more durable and precise grinding tool.
In terms of application, the powertrain segment dominated the super abrasives market with around 30.1% share in 2021. Moreover, the tool grinding segment is expected to register a 7.2% CAGR during the forecast period. The increased demand for grinding tools is mainly from the automotive industry, which uses grinding tools for polishing powertrains and improving the surface finish in order to give that glossy look. By using grinding tools, manufacturers of various industries such as automotive, aviation, and medical among others can get accurate surface finish with less pressure application on work. Moreover, the bearing segment holds the second largest market share after the powertrain segment in 2021, valued at US$ 1,486.1 million.
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On the basis of industry, the electricals & electronics segment dominated the global super abrasives market in 2021 with around 26.1% of the market share. The market is valued at around US$ 1,753.9 million in 2021, registering a CAGR of 6.7% over the forecast period. Super abrasives provide more precision grinding technology to electrical & electronics manufacturers owing to their ability to process semiconductor materials, aluminum, copper alloys, and resin among others. Furthermore, the medical devices segment is projected to grow at the highest CAGR of 7.7% during the forecast period. In order to produce and deliver parts like knee and hip joints, prosthetics, and clinical instruments, these super advanced abrasives are used in different forms.
By region, Asia Pacific is the most dominating region in the super abrasives market followed by North America in 2021, accounting for more than 45% of the total market share. The growth is mainly due to increasing demand for consumer electronics like smartphones, laptops, and television among others in countries such as India, China, and Japan. Moreover, South America is expected to be growing at the highest compound annual growth of about 7.9% over the projected period. The rise in construction and infrastructure development due to increasing partnership agreements between the private and public sectors in the region fueled the market growth.
The global super abrasive market is highly competitive in order to increase its presence in the marketplace. Some of the key players operating in the market are Carborundum Universal Ltd., 3M, Element Six (UK) Limited, SHOWA DENKO K.K., Diametal AG, Noritake, Action SuperAbrasive, Husqvarna AB, Saint-Gobain S.A., Asahi Diamond Industrial Co. Ltd, ILJIN DIAMOND CO., LTD, Finzler, Schrock & Kimmel GmbH, Hyperion Materials & Technologies and Henan Huanghe Whirlwind Co., Ltd., among others.
The global super abrasives market is segmented based on product, application, industry, and region.
By product segment the market is segmented into:
By application segment the market is segmented into:
By industry segment the market is segmented into:
By region segment the market is segmented into:
|Market Size Value in 2021
|US$ 6,694.5 Mn
|Expected Revenue in 2027
|US$ 9,767.4 Mn
|Value (USD Mn)
|By Product, Application, Industry, and Region
|3M, Finzler, Schrock & Kimmel GmbH (FIS), Hyperion Materials & Technologies, Asahi Diamond Industrial, and other prominent players.
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The Global Super Abrasives Market is projected to grow at a CAGR of 6.5% during the forecast period 2022-2027.
Asia Pacific region is projected to hold the highest market share in the Global Super Abrasives Market.
Diamond segment dominates the Global Super Abrasives Market during the forecast period.
Tool grinding segment is estimated to project the highest CAGR.
Substitution of conventional abrasives by super abrasives and increasing use of diamond in grinding wheels for precision and machining tools driving the Global Super Abrasives Market.
South America is estimated to grow at the highest CAGR during the forecast period.
Electrical and Electronics segment holds the highest market share in terms of industry segment.
China is the highest shareholder in the Asia Pacific Super Abrasives Market.
Factors such as increasing demand for cutting and grinding tools is expected to boost the market growth.
The market has been classified into North America, Europe, Asia Pacific, Middle East & Africa (MEA) and South America.
High-performance application, high initial cost and stringent regulations by government restrain the market growth.
3M, Action SuperAbrasive, Asahi Diamond Industrial Co. Ltd., Carborundum Universal Ltd., Diametal AG, Element Six (UK) Limited and Finzler among others.
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